KCM Investment Advisors LLC lessened its holdings in Ingersoll-Rand PLC (NYSE:IR) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,871 shares of the industrial products company’s stock after selling 1,708 shares during the period. KCM Investment Advisors LLC’s holdings in Ingersoll-Rand were worth $2,129,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in IR. Amundi Pioneer Asset Management Inc. grew its position in Ingersoll-Rand by 356.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,793,292 shares of the industrial products company’s stock valued at $159,944,000 after acquiring an additional 1,400,832 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Ingersoll-Rand by 43.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,502,804 shares of the industrial products company’s stock valued at $223,225,000 after purchasing an additional 761,576 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Ingersoll-Rand by 87.4% during the third quarter. Prudential Financial Inc. now owns 1,429,458 shares of the industrial products company’s stock valued at $127,465,000 after purchasing an additional 666,550 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Ingersoll-Rand by 93.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,359,677 shares of the industrial products company’s stock valued at $121,270,000 after purchasing an additional 658,213 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Ingersoll-Rand by 123.9% during the third quarter. Alyeska Investment Group L.P. now owns 1,171,328 shares of the industrial products company’s stock valued at $104,447,000 after purchasing an additional 648,196 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.
In other Ingersoll-Rand news, insider Paul A. Camuti sold 1,678 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $85.15, for a total value of $142,881.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marcia J. Avedon sold 7,560 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $90.29, for a total value of $682,592.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,380 shares of company stock worth $24,889,306. 0.63% of the stock is owned by insiders.
Ingersoll-Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.01). The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.52 billion. Ingersoll-Rand had a return on equity of 16.91% and a net margin of 9.17%. Ingersoll-Rand’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. analysts predict that Ingersoll-Rand PLC will post 5.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, March 8th. Ingersoll-Rand’s dividend payout ratio is currently 35.50%.
A number of analysts have recently commented on IR shares. Zacks Investment Research raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research note on Monday, January 22nd. UBS started coverage on Ingersoll-Rand in a research note on Monday, January 22nd. They set a “buy” rating and a $105.00 price target on the stock. Stifel Nicolaus lifted their price target on Ingersoll-Rand from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. BMO Capital Markets lifted their price target on Ingersoll-Rand to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Argus lifted their price target on Ingersoll-Rand to $105.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Ingersoll-Rand has an average rating of “Hold” and an average target price of $103.69.
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Ingersoll-Rand Company Profile
Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.
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